With 4,679 homes changing hands this month, the Toronto resale home market experienced its best August in history, and extended its record streak to four consecutive months, TREB President Bill Palander commented today.

“Sales are up 5 per cent from last August, and up 7 per cent from 1998 year-to-date” the President said. “It looks like 1999 will be our busiest year ever.” The President noted that prices rose in August, jumping almost two per cent to $225,976 from July’s $222,102. The median remained steady at $193,000.

Breaking down the total 1,761 sales were reported in TREB’s 28 West districts and averaged $211,069; 639 sales were reported in the 14 Central districts and averaged $322,397; 1,010 sales were reported in the 23 North districts and averaged $251,552; and 1,269 sales were reported in TREB’s 21 East districts and averaged $177,756.

Click to view Residential Market Update – August 1999